Managing more than $304 billion in client assets, Morgan Stanley is a world-wide financial powerhouse that services individual investors , corporations and governments. Morgan Stanley specializes in the following range of services:
- Asset and investment management
- Commodities trading
- Institutional consulting
- Investment and commercial banking
- Market-trend analysis and research
- Retail and prime brokerage
Headquartered in Manhattan and operational in 42 countries, Morgan Stanley takes pride in its transparency, forward-thinking and cutting-edge analysis. In fact, Morgan Stanley has been at the forefront of many noteworthy technological advances and trades. From paving the way for mobile banking applications to overseeing the most innovative IPO trades of global tech companies, Morgan Stanley is a prestigious authority in the commercial banking industry.
Noteworthy IPOs managed by Morgan Stanley have included:
- Broadcom Corp
- Cogent, Inc.
- Dolby Laboratories
The Facebook Connection: Recent Scandal and Lawsuits for Morgan Stanley
Despite its longevity and financial leadership in U.S. and global markets, Morgan Stanley has been spotlighted for a range of unethical, illegal conduct that has included (but is not limited to) charging clients for services never provided, misappropriating clients' personal information, and steering clients to invest in manners that would benefit the firm, rather than the client.
One of the latest securities and stock fraud lawsuits against Morgan Stanley involves the IPO trade of Facebook and alleges that the financial institution failed to disclose key information regarding waning access of the site on PCs (due to increased use of mobile applications). Court documents filed against Facebook's CEO Mark Zuckerberg, Morgan Stanley and Nasdeq state:
The true facts at the time of the IPO were that Facebook was then experiencing a severe and pronounced reduction in revenue growth due to an increase of users of its Facebook app or website through mobile devices rather than a traditional PC such that the Company told the Underwriter Defendants to materially lower their revenue forecasts for 2012. And, defendants failed to disclose that during the roadshow conducted in connection with the IPO, certain of the Underwriter Defendants reduced their second quarter and full year 2012 performance estimates for Facebook, which revisions were material information that was not shared with all Facebook investors, but rather, was selectively disclosed by defendants to certain preferred investors and omitted from the Registration Statement and/or Prospectus.
Contact a Stock Fraud Lawyer
If you suspect that Morgan Stanley misused your funds or misinformed you in any way, you are encouraged to consult a skilled securities fraud attorney . Contact us to schedule a consultation today.